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Axis Bank Misses Profit Estimates
Mint Kolkata
|January 17, 2025
Indian Lenders Have Been Grappling With Higher Bad Loans in Microfinance and Unsecured Segments
India's Axis Bank reported a smaller-than-expected rise in quarterly profit on Thursday, as loan growth slowed and it set aside more funds against potential bad loans.
The country's fourth-largest private lender by market capitalization said its standalone net profit—which excludes earnings of its subsidiaries—rose 4% to ₹6,304 crore ($728.48 million) for three months to December-end.
Analysts had expected, on average, a profit of ₹6,516 crore, according to estimates compiled by LSEG.
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